Nigeria Deposit Insurance Corporation
NDIC inaugurates anti-corruption unit
Nigeria Deposit Insurance Corporation (NDIC), as a key component of the Nigerian financial safety-net arrangement, has zero tolerance for corruption and all forms of malpractices within the Corporation and in the implementation of its mandate and activities.
‘NDIC remitted N217b to government in 30 years’
The Nigeria Deposit Insurance Corporation (NDIC) remitted a whopping N217 billion into the Consolidated Revenue Fund (CRF) of the government within the three decades of its existence, the Ministry of Finance has disclosed.
NDIC renews call for amendment of enabling Act
The Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has appealed to the ninth Senate of the Federal Republic for the speedy passage of the NDIC Act, 2006 (as amended), currently before the National Assembly. Ibrahim made the plea when the management of the corporation paid a courtesy…
How shareholders’ activism ensures accountability, protects listed firms
Shareholders are the owners of companies whether listed or not. They have claim on a portion of the assets owned by the company. As these assets generate profits, which are ploughed back for further growth, shareholder value increases which capital markets reward through rise in stock price.
Lawmakers to speed up NDIC Act amendment for improved deposit cover
The quest for the amendment of the Nigeria Deposit Insurance Corporation (NDIC) Act 2006, to enable it eliminate assessed gaps hindering the full implementation of the Deposit Insurance System (DIS) in Nigeria, would be given accelerated attention, The Guardian has learnt. The Senate Committee on Banking, Insurance and Other Financial Institutions expressed has expressed a strong commitment of the lawmakers to the…
NDIC paid N11.5b to creditors of failed banks in 2017, says MD
Nigeria Deposit Insurance Corporation (NDIC) paid N11.50 billion to depositors and other creditors of failed financial institutions in the country last year. The Managing Director and Chief Executive, Umaru Ibrahim, stated this during the NDIC Special Day at the Abuja International Trade Fair with the theme ‘Enhancing SMEs in Agribusiness through Innovative Technology', in partnership…
Polaris Bank as alternative to ‘collapse, liquidation’
The emergence of Polaris Bank to take over the defunct Skye Bank has prevented the extreme situation and applications of two terminologies- “collapse and liquidation”, associated with unfavourable banking industry outcome. A bank is said to have collapsed when it is unable to meet its obligations to its depositors or other creditors, because it has…
Before banks downsize loan portfolio to businesses
Reports that banks in the country have been reducing their loan portfolio to businesses should not be taken lightly by the power elite and those who have responsibility to manage the economy. Businessmen and intending entrepreneurs should note that the Nigerian economy at present requires every support to rebound fully and ensure improved economic and…
NDIC boss Ibrahim advocates better education to tackle violence, insecurity
The Managing Director and Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim has advocated quality education as panacea to check the spate of violence and insecurity challenges currently being experienced in the country. Ibrahim made the remark in an address he delivered at the 15th graduation ceremony of Zaria Academy, Kaduna State, where a…
NDIC to probe banks as fraud cases rise, loss hits N2.37b
The cases of fraud are rising in the nation’s banking industry, prompting a resolve by the Nigeria Deposit Insurance Corporation (NDIC) to investigate affected banks.